A New Decision That Will Be Talked About a Lot from the CEO of Binance! Unfavorable price changes at Binance prompted an internal investigation. The CEO of the crypto exchange concluded that this was “just market practice.” Binance has a “temporary lockout” for some accounts that take advantage of it.
Negative price changes at Binance, the leading crypto exchange by volume, prompted an internal investigation that led CEO Changpeng Zhao to conclude that the move was “just market behavior” – despite a temporary pause in prices. withdrawal for certain beneficiary accounts.
The official Binance Twitter account announced the investigation at 3:10 a.m. ET. He concluded that the unusual price movements were not caused by compromised accounts or stolen API keys. Related trading pairs include Sun Token, Ardor, Osmosis, FUNToken, and Golem.
“Based on our research so far, this appears to be just a marketing exercise,” tweeted Zhao, who calls himself “CZ,” before explaining, “A man deposited money and started buying. (People running does not invest). The other guys followed. Unable to find link between accounts.”
However, Binance “temporarily blocked the withdrawal of funds from some accounts that will benefit,” according to its CEO – fueling the debate about the role of central exchanges and the extent of their involvement.
“We are aware of the concept of high participation on the platform,” CZ tweeted, adding, “There is a balance between the number of our participation. Sometimes it happens in the open market, we will and let it spread.”